Lagatar24 Desk
Canberra, April 14: The Australian government has imposed targeted financial penalties on 14 Russian state-owned firms and has demanded that Russia withdraw its armed forces from Ukraine immediately.
The list includes defense-related enterprises like as transportation provider Kamaz and shipping companies SEVMASH and United Shipbuilding Corporation, according to an official statement.
“Sanctions extend to electronic component company Ruselectronics, which is responsible for the production of around 80 per cent of all Russian electronics components. They also target Russian Railways, which is one of the world’s largest transportation companies and one of the largest single contributors to Russia’s GDP,” read the statement.
Targeting Russia’s state-owned firms, according to the Australian government, is aimed at damaging their ability to grow the Russian economy.
The Australian government reiterated its support for Ukraine’s sovereignty and territorial integrity, saying that by blocking Russia from dealing with these crucial sources of cash, it is raising pressure on Russia and undermining its ability to continue supporting the conflict.
